What is the Litecoin forecast for 2021 to 2025? Will crypto-silver pay off as a long-term investment and step out of Bitcoin’s shadow? An assessment of the current and future market situation for Litecoin (LTC).
Traditionally, the price of Litecoin is closely related to its “big brother” Bitcoin. Currently, a very similar price trend is also emerging. After a correction at the end of February, March is currently marked by a significant recovery. The all-time high was recently breached and is now at $388.09. FatPigSignals predicted this breakout. You can find out how they and other experts see Litecoin developing further in this article. As one of the oldest cryptocurrencies and similar to Bitcoin, Litecoin is considered a kind of digital silver.
Similar to bitcoin, litecoin also benefited from the recently announced plans of the payment service provider PayPal. The company developed its own service for trading cryptocurrencies.
While not a classic partnership in the sense, Litecoin is henceforth a prominent part of Google Finance. An update in the finance section of the search engine giant in March lists LTC as one of the few coins on an overview page for finance rates. Besides LTC, only Bitcoin (BTC), Ether (ETH), and Bitcoin Cash (BCH) is currently found on Google Finance. This move is further proof of the advancing acceptance of cryptocurrencies in the mainstream.
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To make a meaningful Litecoin prediction, the basic facts should be known. Litecoin was first introduced as a fork of Bitcoin on GitHub in October 2011. The network finally went online a week later. The founder of Litecoin, Charlie Lee, is a former Google employee who was fascinated by the idea of Bitcoin. As a fork, Litecoin shares many similarities with Bitcoin, but also differs in some important ways:
- Block time is about 2.5 minutes
- Hashing algorithm Scrypt
- Modified, user-friendly GUI
- With a total of 84 million Litecoin Coins (LTC), the upper limit is significantly higher
Many arguments can influence the price of a cryptocurrency in the future. As a fork, Litecoin has to compete with Bitcoin first and foremost in terms of performance and growth potential. When it comes to Litecoin prediction, the following points argue that the price will increase in the long run:
Litecoin has become one of the preferred cryptocurrencies on the dark web. An estimated 30% of all transactions on the dark web appear to be conducted via Litecoin. Thus, LTC is challenging Bitcoin for a lucrative market. The Dark Web seems to be moving away from Bitcoin is mainly that Litecoin is faster and cheaper. In this respect, Litecoin is still superior to Bitcoin so far.
Because of the Scrypt PoW algorithm, mining in Litecoin is easier. The mining process may be easier in Litecoin than in Bitcoin (although this concept is controversial) because of the new Proof of Work algorithm.
As a former Google employee, Charlie Lee embodies the image of a reliable, competent person for many. The fact that he left his job at Google to take care of the Litecoin project full-time has convinced many investors in the past. Lee even stepped down from his position as Chief Technical Officer of Coinbase in favor of Litecoin.
Litecoin enjoys great prestige in China. This is very good for Litecoin forecasts, as the Chinese market represents the largest potential user pool in the world.
All hardware wallets support LTC. This is an important point when it comes to increasing distribution and trading volume.
In the past, Litecoin has proven to be comparatively resistant to bear markets. This shows that the cryptocurrency is on solid footing. In August 2019, Litecoin had the last halving. The next halving is expected on September 6, 2023. Such events usually positively impact a coin’s value, reduce inflation, reduce supply, increase demand, and ultimately increase the price.
With all the positive points to be said about Litecoin, the potential risks should not be neglected. This is because there are some arguments why the Litecoin forecast could be unfavorable in the long run:
After Bitcoin also introduced SegWit, Litecoin lacks one of its key competitive advantages. Since then, many Litecoin users have been waiting for Litecoin to integrate new technology or somehow differentiate itself from Bitcoin again.
Litecoin has struggled as an altcoin and bitcoin fork. It has an overwhelming opponent in Bitcoin, which seems to overshadow the entire market. It could take some time for Litecoin to really establish itself and finally step out of Bitcoin’s shadow. There’s also Bitcoin Cash, which Litecoin will have to compete with as well.
The LitePay scandal in 2018 brought the Litecoin hype to a temporary halt. Litecoin announced on February 26, 2019, that it would launch its own payment processing system but had to row back a short time later and stopped all efforts in this direction. Many Litecoin investors were disappointed, and LTC lost value. Although the price (LTC rate) seems to recover, this event shows that such unexpected events need to be taken into account when making a Litecoin forecast.
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As shown above, many points speak for an increase in the LTC price. But what does this mean for the long-term Litecoin forecast? Below is an overview of the assessment of some analysts and forecast calculations:
Cryptoground:
Based on an internal deep-learning algorithm, it is assumed here that LTC will be at US$136.52 in one year. This corresponds to a price increase of almost 19%. According to the assessment, this growth will be able to continue. This price signal has already occurred. According to Cryptoground, the Litecoin price should be at $398.72 in 2024. This has already been almost reached. What does this tell us? The crypto market is very volatile, and in the bull market, a lot of money initially flows into the big coins, such as Litecoin, among others. The platform can even give an estimate for 2025. By that time, according to the algorithmic forecast, 1 LTC will cost US$437.92.
CryptoInfobase:
In contrast to the Cryptoground analysis, the factors mentioned above are used here as the basis of the forecast. Nevertheless, the trend here is similar. However, the long-term growth potential is estimated to be much higher. It is assumed that Litecoin will experience two major price jumps in 2020 and 2025. While Litecoin will close 2019 at US$110, it will increase significantly in value in 2020. In that year, LTC will rise to US$320. Currently, we are at $300. The Litecoin forecast for 2025 assumes a price of 950 US$ for 1 LTC — I also see this as realistic!
After seeing some great upside over the last few months, LTC has started to consolidate along with the vast majority of the market. As shown on our chart, we have some great support around our 0.5 fib support (200$~); assuming this level is held on our monthly time frame (close), we can naturally expect this multiyear projection to remain valid. From a fundamental standpoint, a network halving has always been an event to look forward to. It has historically brought great support for the underlying’s price; this is due to the production cost increase (miners incentives), similarly to bitcoin. Going forward, our long-term bias is neutral-bullish on LTC, assuming it holds the said condition.
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Source: https://medium.com/coinmonks/litecoin-forecast-2021-2025-is-a-long-term-investment-worth-it-e0fe27b7287b?source=rss——-8—————–cryptocurrency
